Ill. Admin. Code tit. 38 § 1055.440

Current through Register Vol. 48, No. 50, December 13, 2024

Section 1055.440 - Examination Authority and Cooperation

a) Pursuant to the Secretary's authority under the ILCRA, including, but not limited to, Sections 35-15 and 35-25 of the ILCRA, the Secretary and the Secretary's appointees may examine the entire books, records, documents, and operations of each covered mortgage licensee or its directors, employees, and agents under oath.

b) A covered mortgage licensee shall be required to fully cooperate in any examination conducted pursuant to this Part. Cooperation includes, but is not limited to:

1) timely and full production of books, records, and documents, in any reasonable format requested by the Department; and

2) ensuring all officers, directors, employees, and agents of the covered mortgage licensee are available for depositions or interviews upon reasonable notice.

Ill. Admin. Code tit. 38, § 1055.440

Added at 48 Ill. Reg. 7172, effective 5/1/2024